当地时间2月10日，福特汽车发布2025年第四季度及全年财务报告。核心数据显示，2025年，福特汽车 营收实现连续五年正增长，展现出一定的经营韧性，但受大额特殊项目费用计提及外部突发成本冲击， 全年业绩由盈转亏，三大核心业务板块呈现显著差异化发展态势。 具体来看，福特2025年营收1873亿美元，同比增长1%。这一成绩得益于公司产品结构优化与定价策略 调整，尤其是高附加值车型的持续贡献。 调整后的自由现金流预计为 50亿至60亿美元 (含资本支出约 95-105亿美元) 不过，从销量层面来看，福特全球批发销量约439.5万辆，同比下滑2%。与此同时，福特在盈利端面临 显著压力，全年净亏损约82亿美元。作为对比，福特2024年的净利润为59亿美元。 439.5万辆 全年销量 近 290亿美元 现金 资产负债表 500亿美元 流动性 保持强劲 2026年业绩指引 全年调整后息税前利润将介于 80亿 室 100亿美元 之间 若剔除特殊项目影响，福特2025年调整后息税前利润为68亿美元，同比下滑3.5%，调整后息税前利润 率3.6%，整体盈利质量较上年有所下降，主要受供应链成本波动及战略调整投入影响。值得注意的 是 ...

福特汽车(F.US)涨2.5%，最高触及13.99美元，创去年7月以来新高。消息面上，福特汽车宣布将计提约 195亿美元费用，主要与其电动汽车业务相关。福特将停产F-150 Lightning纯电皮卡，转而生产配备车 载汽油发动机的增程版本。福特自2023年以来已在电动车业务上亏损130亿美元，目前将战略重心转向 混合动力和增程式电动车，同时加强传统燃油车阵容。(格隆汇) ...

在9月8日开幕的慕尼黑车展上，尽管欧洲各大车企展示的新款EV备受瞩目，但德国大众首次开发真正 意义上的HV等，可以看出其战略的调整。10年前，欧洲车企曾描绘出在EV开发上领先并占领全球的蓝 图，但EV的减速与中企的崛起使这一计划落空…… 大众集团的豪华车品牌保时捷8月放弃在子公司生产EV电池。计划在2025年追加计提8亿欧 元，开发新的插电式混合动力车（PHV）车型。大众集团的奥迪也于3月撤回了"2026年后仅 推出EV新车"的原有目标。 德国梅赛德斯-奔驰集团也修正了2030年新车全部为EV的目标，并将在此后继续销售包括 PHV在内的发动机汽车。由法国雷诺与中国浙江吉利控股集团共同设立、专注于发动机动力 总成（动力系统）研发的HORSE Powertrain也在此次车展中设立了独立展台。 大众在前一天的自家的活动上发布了四款新型EV。其中，热门小型车"Polo"的EV版定价为2 万5000欧元，计划于2026年上市。大众首席执行官奥利弗·布鲁梅表示："这是一款拥有亲 民价格、适合所有人的车"。 但活动上并未提及的新车将从9日公众开放日起在大众的开放展区展示。那就是自2017年上 市以来全球销量超过200万辆 ...

Core Viewpoint - Nissan is planning to reduce its stake in Renault by 5%, bringing its ownership down to 10%, with the proceeds estimated at 100 billion yen (approximately 4.96 billion RMB) to be used for new vehicle development in response to market competition [1][2]. Group 1: Shareholding Adjustments - The reduction in cross-shareholding follows a previous agreement in July 2023 to lower mutual shareholding ratios from 15% to 10%, aimed at increasing flexibility for both companies [2][3]. - This move is interpreted as a continuation of the strategy to "unbind" the capital relationship between Nissan and Renault, transitioning to a phase of "low binding, high autonomy" [1][3]. Group 2: Strategic Implications - Nissan's decision to lower its stake is seen as a way to gain financial independence and focus on new product development, particularly in the face of challenges in key markets like China and North America [4][6]. - The company aims to enhance its strategic autonomy, allowing for more flexibility in partnerships and collaborations beyond the Renault-Nissan-Mitsubishi Alliance [3][4]. Group 3: Financial Performance - Nissan's financial results for the fiscal year 2024 show a significant decline, with operating profit down 87.7% to 69.8 billion yen (approximately 3.48 billion RMB) and a net loss of 670.9 billion yen (approximately 33.42 billion RMB) [7]. - The company is under pressure from various factors, including U.S. trade tariffs and intense competition from Chinese automakers, necessitating a strategic overhaul [7]. Group 4: Restructuring Efforts - The new CEO, Ivan Espinosa, has initiated a major restructuring plan named "Re: Nissan," aiming to cut 500 billion yen (approximately 24.65 billion RMB) in costs and achieve positive operating profit and free cash flow by fiscal year 2026 [7]. - The restructuring includes plans to lay off 20,000 employees, representing 15% of the workforce, and close seven factories globally [7]. Group 5: R&D and Market Strategy - Nissan is increasing its investment in research and development, with a 12% year-on-year rise in R&D expenses, primarily focused on electrification and advanced driving assistance technologies [8]. - The company is committed to enhancing its product strategy in China, emphasizing local development and a stronger focus on electric vehicles [8].